What type of distribution is characterized by values that are evenly spread between the highest and lowest?

The type of distribution that is characterized by values that are evenly spread between the highest and lowest is the rectangular (uniform) distribution. In a uniform distribution, every value within a certain range has an equal probability of occurring, meaning that there is no preference or bias towards any particular value within that range. This creates a flat, rectangular shape when represented graphically, hence the name "rectangular distribution."

In contrast, other distributions such as the exponential distribution show a lack of uniformity, often decreasing probabilities as values increase. The normal distribution, which is bell-shaped, centers around a mean with probabilities tapering off toward the extremes, signifying that not all values have equal representation. The Bernoulli distribution, on the other hand, is applicable to situations with two possible outcomes (like success or failure) and does not provide a range of values. Thus, the rectangular (uniform) distribution is unique in evenly spreading values across a defined range, making it the accurate choice for this question.